Welding products have extensive applications in numerous industries including marine, manufacturing, automotive, building, and construction. From past few years, demand for welding products is increasing mainly from emerging oil and gas industries. Additionally, continuous technological advancements in welding techniques are driving growth of the global welding products market. A range of customized welding products and equipment are assisting the oil and gas companies in order to meet customer requirement. Moreover, demand for weld pipes for the construction of pipelines is positively influenced. Rapid infrastructural development and technological advancements primarily in the automotive industry are anticipated to boost demand over the forecast period.
However, usage of welding products may lead to the health and safety issues due to these concerns, regulatory frames including American Welding Society (AWS), the European Union, ECHA, REACH, OSHA, and American National Standards (ANSI) have imposed numerous stringent regulations. These limitations are crimping growth of the global welding products market over the forecast period.
The welding products market was registered at US$19,080.3mn in 2015 and it is anticipated to attain value of US$23,777.5 mn by 2020. Growing demand for resistant welding technology from numerous applications mainly in the automotive industry for maintenance and repair are the key factors propelling the demand for welding products.
Automobile and transportation to Remain Key Application
On the basis of technology, the welding products market is segmented into arc welding, resistance welding, laser beam welding, oxy-fuel welding, and ultrasound welding. Stick electrodes, flux-cored wires, solid wires, saw wires, and fluxes, and gases are consumed more than others. Among these, the stick electrodes accounted from the larger share in the global welding products market in 2016. Presence of end-use industries in developing economies are anticipated to boost the growth of the segment. However, flux-cored wires and solid wires are expected to account for larger share by the end of year and witness faster growth in the global market owing to high performance and cost effectiveness.
On the basis of application, the welding products market is segmented into building and construction, automobile and transportation, and marine. Among these, the automobile and transportation accounts for a major market share in 2016. The segment is projected to continue its dominance over the forecast period. This growth is attributable to growing demand for welding products and equipment in the field of aerospace, automotive, and railways for manufacture of large structural constituents.
Emerging Economies are Paving Way for Huge Growth
On the basis of region, the global welding products market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Of these, Asia Pacific accounts for the leading share in the market. The market was registered at US$8,663.5 mn and is anticipated to expand with a CAGR of 4.7% over the forecast period from 2014 to 2020. Growth of the Asia Pacific is attributed to demand for arc welding in the numerous industries including building and construction, automobile, and manufacturing. Presence of numerous manufacturing firms across emerging countries including India and China is expected to fuel demand.
Some of the key players operating in the global Welding Products market are ESAB, Fronius International GmbH, Illinois Tool Works Inc., Lincoln Electric, Amada Miyachi America, Inc., Arcon Welding Equipment, LLC, Obara Corporation, and DAIHEN Corporation.
The global welding products industry has been experiencing strong growth from various end-user industries, primarily from the building and construction industry. Other key end-user industries include electronics, mining and energy. However, this study on welding products focuses on key industries such as building and construction, marine and transportation (including aviation, automobile and railways).
Industry analysis of the report provides a comprehensive view of each player in the value chain of the welding products market. It also provides key driving and restraining factors in the welding products market, with impact analysis of each factor. The industry analysis also elaborates on the possible opportunities for the market in the future. Additionally, the report analyzes the global competition for welding products with the help of a Porter’s Five Forces analysis model.
This study analyzes the welding products industry, and estimates and forecasts the global market in terms of revenue (USD million). The welding products report segments the market based on technology, product types, application and key regions. Key technologies included in the report are arc welding, resistance welding, oxy-fuel welding and cutting, laser beam welding and ultrasound welding. Key products included in the scope of the report are stick electrodes, solid wires, magnesium, flux-cored wires, SAW wires and fluxes and others (including gases). Key applications included in the study are automobile and transportation, building and construction, and marine applications. The welding products report analyzes the attractiveness of each technology with the help of the market attractiveness tool.
The report segments the welding products market into key regions such as North America, Europe, Asia Pacific and RoW. RoW includes Latin America, the Middle East and Africa. Each technology, product and application segment has been further provided for each regional market. The welding products study provides market estimates and forecast for each segment in terms of revenue (USD million).
The welding products report comprises profiles of key companies such as DAIHEN Corporation, Arcon Welding, Panasonic Welding, Miyachi Corp, Lincoln Electric Holdings, ROFIN-SINAR Technologies and Doncasters Group Ltd. Company profiles include parameters such as company overview, product portfolio, financial overview, business strategies, SWOT analysis and recent developments.
Primary research represents the bulk of research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities. Secondary research sources that are typically referred to include company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings, internal and external proprietary databases, and relevant patent, regulatory databases, national government documents, statistical databases and market reports, news articles, press releases and webcasts specific to companies operating in the market. Secondary research sources referred for the study of welding products are Welding Design website, Total Materia, company websites, investor presentations and company annual reports
The report segments the global welding products market as:
Welding Products Market - Technology Analysis
- Arc welding
- Resistance welding
- Oxy-fuel welding
- Laser beam welding
- Others (ultrasound welding, etc.)
Welding Consumables Market - Product Segment Analysis
- Stick electrodes
- Solid wires
- Flux-cored wires
- SAW wires and fluxes
- Others (gases, etc.)
Welding Products Market - Application Analysis
- Automobile and transportation
- Building & construction
- Others (repair and maintenance, etc.)
Welding Products Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)